Don't need an economist. Patently obvious he has plans to fleece the American public (just read something about an X digital wallet) and doesn't want any oversight or accountability.
from that Politico article: ’Musk’s statement comes less than a week after the CFPB finalized a regulation that would expand its oversight of big tech companies that offer payment and digital wallet apps. That would potentially include X, which has explored ways to enter the payments business.’
Power mongers HATE consumer rights. Ask Ralph Nader. Nuisance to their power; power corrupts and absolute power corrupts absolutely. Delusions of grandeur. #SourceCode with Jake G. Ai future use? 🧩🎱☮️🏴☠️🛟💟
Tax... refund? 🤔 No that will be handled through one employee somewhere in Idaho, whom you will have to visit personally because there were no funds to give him an e-mail account. His name is Bob and he's a joy, or used to be.
money was free for tech stocks from 2008 to 2019, with the low interest rates, as long as their stocks were growing user growth more than the very small interest rates
but now in 2020 to 2025 banks and institutional investors demand revenue
Moloch's minions do not like light shining on their nefariousness, preferring to work secret iniquity in the dark: CFPB stands to expose them—of course they want to kill it.
Starting to think we’d be better off with a system where the chief executive’s personal finances were aligned with the regular economy rather than shitcoins and other grifts
Because he is a blight on humanity. I was neutral about him UNTIL the Thai cave rescue when he called an actual expert in water cave rescue a "pedophile" for criticizing his dumb minisub idea. Elon won when the guy sued him by claiming "pedophile' was an innocent cultural ref. Now the Nazi stuff-WTF
Cui bono? Protections and regulations exist to safeguard citizens from the predatory practices of corporations and the powerful who exploit the system for their own gain. Without these checks, the vulnerable would be left at the mercy of those with the resources to bend the rules for their advantage
It's all part of Project 2025, Carl. It is crystal clear about the fate of the #CFPB, "the next conservative President should order the immediate dissolution of the agency." #Musk is just the tool they are using to carry out their plans.
See Chapter 27, page 9: https://static.project2025.org/2025_MandateForLeadership_CHAPTER-27.pdf#page=9
Exactly. All this is because Elon, Theil, Vance, etc have convinced Trump cryptocurrency will make him tons of $. So they are gutting economic institutions in order to make unregulated magic $ the default currency of the USA.
Basically if you want to establish bitcoin in a federal reserve (as they do with gold they would have to buy it). He who controls the Fed Resv gets to pick which bitcoin to buy (aka Trumps meme coin) Before CFPB was
financial Wild West that crashed US economy in 2008.
There is only one bitcoin. It is a protocol with a massive global network of nodes and miners, and a $2 trillion dollar asset, recognized by regulators, investors and asset managers worldwide.
It has thousands of spin-off worthless scam imitators, like Trump coin, collectively called “crypto”.
This is a good article, but one thing it doesn’t get at is - to what end? So they take over the govt and dismantled it (in progress), but for what purpose? Just power for the sake of power? To steal our money? To make us into North Korea? What’s the end game for the avg American?
Sure techno acolytes like Elon,Thiel and Naval Ravikant and other Tech bros could be working to topple the US and usher in a NWO of AI and the block chain. They would view CFPB as obsolete because all contracts are on the block chain, also all the jobs in the Fed Gov are replaced with AI driven BC
Not an economist, but I can tell that Americans are just learning what CFPB is (was?) and I’m somewhat sure that all the Karen’s that voted for Trump will not like that some guy dismantled a place where they could have complained about the manager.
Ain't no ecomonist...
... but, a few months ago I read that CFPB is preventing ( or standing in the way of ) Crypto going sub-prime mortgage CDO type fiasco that triggered great-recession. Main reason CFPB was formed by Obama after the great recession !!!
"The new CFPB rule supervising digital payment apps, which would also seek to reduce fraud, has a direct bearing on Musk’s ambition to turn X into a version of Venmo."
FWIW:
"Judge, Jury, and Executioner" at CFPB !!
OMB Director Russell Vought ( architect of #Project2025 ) is the new Acting Director of CFPB, to gut CFPB into oblivion ;
𝘾𝙧𝙮𝙥𝙩𝙤𝙘𝙧𝙖𝙩𝙨 would be very pleased to have unchecked ability to royally screw Crypto-Retail-Consumers !!!
Comments
https://insideevs.com/news/731559/tesla-least-reliable-used-car-brands/
‘Republicans and the financial industry have long targeted the CFPB for what they consider its overly aggressive regulation...’
’https://www.politico.com/live-updates/2024/11/27/congress/delete-cfpb-musk-calls-for-elimination-of-consumer-bureau-00191994
Service members, students, everyday folks,
The CFPB shields them from financial hoaxes.
$21 billion back to you and me.
No wonder Musk wants it RIP.
money was free for tech stocks from 2008 to 2019, with the low interest rates, as long as their stocks were growing user growth more than the very small interest rates
but now in 2020 to 2025 banks and institutional investors demand revenue
thus the Consumer Protection Bureau is an institution that may protect you from easy revenue (outright fraud and cheating)
I left the econ direction long ago, so while it is my major it is also baggage (the freaking joke with your meme)
take care 🙂
It has everything to do with silencing and shuttering anyone who will challenge their corruption.
THAT is the only acceptable outcome to any of this!!
The purpose of a business is to maximise profit.
The consumer is rational and the aggregate of consumer choices will select businesses.
Also, eugenics. Consumer protection interferes with the natural selection of the most rational - highest IQ- consumers.
https://apps.apple.com/app/id1202558609
https://bsky.app/profile/noelcaslercomedy.bsky.social/post/3lhqwdwts7s2z
Rule No.1 of power “never confuse power with money.” 🥺
Service members, students, everyday folks,
The CFPB shields them from financial hoaxes.
$21 billion back to you and me.
No wonder Musk wants it RIP.
See Chapter 27, page 9: https://static.project2025.org/2025_MandateForLeadership_CHAPTER-27.pdf#page=9
🤗
financial Wild West that crashed US economy in 2008.
https://upriseri.com/why-billionaires-and-banks-are-desperate-to-kill-americas-most-effective-consumer-watchdog/
It has thousands of spin-off worthless scam imitators, like Trump coin, collectively called “crypto”.
🤔
... but, a few months ago I read that CFPB is preventing ( or standing in the way of ) Crypto going sub-prime mortgage CDO type fiasco that triggered great-recession. Main reason CFPB was formed by Obama after the great recession !!!
https://prospect.org/power/2024-11-29-elon-musk-marc-andreessen-cfpb
"Judge, Jury, and Executioner" at CFPB !!
OMB Director Russell Vought ( architect of #Project2025 ) is the new Acting Director of CFPB, to gut CFPB into oblivion ;
𝘾𝙧𝙮𝙥𝙩𝙤𝙘𝙧𝙖𝙩𝙨 would be very pleased to have unchecked ability to royally screw Crypto-Retail-Consumers !!!
How come AI doesn't know that a single "i" in a sentence should be capitalized?
Once you process payments you are regulated.
Does it make sense now?
https://www.cnbc.com/amp/2025/01/28/elon-musk-x-visa-digital-wallet.html
寝れないよ
どこか持ってない
ドルが有る
I cannot sleep now
Somewhere there’s still a dollar
That I don’t possess